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TREASURY FINANCING REQUIREMENTS October-December 1978 $Bil Uses Sources 40 Gov't Acct. Investment m\ \h Special Issues y Coupon a 30 Coupon A Maturities W Refunding T Savings Bonds and Other 3/4 20 Foreign ± Agency Nonmarketables t Maturities Cash Net Market A 10 Deficit Borrowing Decrease in A Cash Balance• J/ Net of exchanges for maturing marketable securities of $1 V* billion. Office of the Secretary of the Treasury Office of Government Financing January 30, 1979 -6 TREASURY FINANCING REQUIREMENTS January-March 1979^ $Bil Uses Sources 35V2 Special Issuesm\ Gov't Acc't Sales 30 Coupon ^ Coupon ± Maturities Jf Refundings W Nonmarketables 3/4 ^ 20 Agency Done Maturities Net Market ^^ Borrowing To Be Done Cash Deficit 10 Decrease in Cash Balance 0 •" Assumes $8 Billion March 31, 1979 Cash Balance. Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-12 TREASURY NET MARKET BORROWING-^ Calendar Year Quarters $Bil $Bil I COUPONS 24.7 ill Over 10yrs. 23.9 E%%! 0^10 yrs. BILLS 20- 20 4.2 14.8 3.3 13J4" To Be i" | 8.3 Done-^ ! 10 10 10% 6.4 0 0 -10 -3.9 -10 II III IV I II III IV I II III IV I II III IV |2/ 1975 1976 1977 1978 1979 ±J Excludes Federal Reserve and Government Account Transactions. Office of the Secretary of the Treasury •2J Issued or announced through January 26, 1979 Office of Government Financing January 30, 1979-7 TREASURY OPERATING CASH BALANCE Semi-Monthly $Bil Without -—New - Borrowing Total k OperatingtA Balance / \ A // \\ ^ /\ \ \ \ \ 10 \ \ - A a n^^l V^\ /V \ \ i \\ A A // * V \\ v > |V »V\ A /AY // Federal M/ i t—, TaVand Loanw \/WWV Vs-*V*' Account?eserve \V*¥//•— i Accounts Balance %/ 0 i / i / \ / \ / i / \i I I I I I I I I I I I I 1 1 -10 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar 1978 1979 Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-11 NET NEW MONEY FROM FOREIGNERS AND FROM NONMARKETABLE ISSUES TO PRIVATE INVESTORS 1975 1976 1977 1978 lJ Includes nonmarketables and add-ons to 52-week bills and coupons. Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-5 QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL HOLDINGS OF PUBLIC DEBT SECURITIES $Bil 16 Nonmarketable 4.9 14.1 Marketable: 13.5 IAdd-onsy ^w •,'WV 12 Other Transactions 8 3.5 1.4 1.0 1.6 1.6 1.0 Ep m o -0.5 -8 III IV III IV III IV I II III IV v 1975 1976 1977 1978 •V F.R.B. Purchases of marketable issues as agents for foreign and Officeof the Secretary of the Treasury international monetary authorities for new cash Office of Government Financing £/ Partly estimated January 30, 1979-9 CUMULATIVE NET CASH FLOW IN E AND H SAVINGS BONDS1" $Mil $Mil 800- -800 1977 >' :=*>' 600 -600 1976 ^ ^< 400 ..^^i975 400 200 200 0 \:. -200 -200 -400 _ \«1979e -400 1 M MJJ N D Month of year Office of the Secretary of the Treasury Office of Government Financing -i^Cash sales less redemptions January 30,1979 -26 SHORT TERM INTEREST RATES Monthly Averages % 7o 14 14 Through \4 Federal Funds Week Ending Jan. 24, 1979 12 12 10 10 8 8 3 Month Treasury Bill i i i i i I i i i i i I I I I I I I I _l_L i i i I I I JSNJMMJSNJMMJSNJMMJSNJMMJSNJ 1974 1975 1976 1977 1978 1979 Officeof the Secretary of the Treasury- Officeof Government Financing January 30, 1979-13 SHORT TERM INTEREST RATES Weekly Averages % % 11 - 11 10 \ - 10 Prime Rate .—••».....•• Week Ending" Jan 24, 1979 8 3 Month 8 ..-- Treasury Bill -w" ^. ••••»..«..-••' Jul Aug Sept Oct Nov Dec Jan 1978 1979 Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-14 LONG MARKET RATES Monthly Averages o/ /o % New Aa Corporates 10 10 *..., A _ ' *%..»^t New Conventional V Mortgages 9 8 8 - 6 JSNJMMJSNJMMJSNJMMJSNJMMJ SNJ 1974 1975 1976 1977 1978 Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-15 INTERMEDIATE AND LONG MARKET RATES Weekly Averages % % Week Ending Jan 26, 1979 11 _ 11 New Conventional 10 10 ,^"- •».„ New Aa Corporates .+ ^ "'*• ^'"'"-' 9 -9 as**^ ^^.^^^^^^^SS^^^^^^B^^^^^^^^^^^^^^^^^^^ Treasury 20-Year - Treasury 7-Year _ "*._ „ 8 ' Treasury 10-Year -8- 7 New 20-Year ^___^^ Municipal Bonds 6 —:-6 5 .. I ii ill Jul Aug Sept Oct Nov Dec Jan 1978 1979 -"Monthly, weekly data not available. Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-16 MARKET YIELDS ON GOVERNMENTS Bid Yields % % % 10 11 11 January 26, 1979 10 10 i I i I i I i 18 20 22 24 26 28 30 October 20, 978 _J 8 8 i i i I I I I I i I I I _L _L_L I I I i i i 0 4 5 6 8 10 Years to Maturity Officeof the Secretary of the Treasury Office of Government Financing January 30, 1979 -17 TREASURY MARKETABLE BOND ISSUES^ $Bil 4 E220Long Bond HHl5 yr. Bond i i i 0 I illl III IV I III IV I II 1975 1976 1977 1978 j/Excludes Federal Reserve and Government Account transactions. Officeof the Secretary of the Treasury Office of Government Financing January 30, 1979 -28 PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT $Bii BY MATURITY 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 As of December 31 Office of the Secretary of the Treasury Office of Government Financing January 30, 1979-22 AVERAGE LENGTH OF THE MARKETABLE DEBT Privately Held 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 Office of the Secretary of the Treasury Office of Government Financing January 30, 1979 -4 OWNERSHIP OF THE MATURING ISSUES February 1979—January 1980* (In Millions of Dollars) Savings Institutions Total State & Other Maturing Issues Privately Commerical Long- Intermediate- Local Corpora Private Foreign Held Banks term-^ term General tions Holders Investors Investors-^ Funds 7% Nt. 2-15-79 2,961 1,225 30 276 49 84 585 712 5 7/8% Nt. 2-25-79 2,477 730 1 228 265 376 332 545 6% Nt. 3-31-79 2,874 1,070 23 217 263 69 476 756 5 7/8% Nt. 4-30-79 1,833 528 0 154 181 208 144 618 7 7/8% Nt. 5-15-79 1,719 952 9 142 92 41 360 123 6 1/8% Nt. 5-31-79 1,848 484 1 147 221 210 96 689 7 3/4% Nt. 6-30-79 1,624 728 15 252 45 26 447 111 6 1/8% Nt. 6-30-79 2,017 504 3 324 154 127 -63 842 6 1/4% Nt. 7-31-79 3,021 850 7 320 410 326 89 1,019 6 1/4% Nt. 8-15-79 2,739 744 28 209 114 167 683 794 6 7/8% Nt. 8-15-79 2,109 985 10 254 118 319 89 334 6 5/8% Nt. 8-31-79 3,042 968 6 358 183 456 36 1,035 8 1/2% Nt. 9-30-79 1,851 693 44 250 56 13 704 91 6 5/8% Nt. 9-30-79 3,527 957 6 227 423 415 183 1,316 7 1/4% Nt. 10-31-79 3,879 1,206 37 283 301 347 570 1,135 6 1/4% Nt. 11-15-79 3,112 1,337 19 470 223 552 76 435 6 5/8% Nt. 11-15-79 465 146 38 57 32 39 153 0 7% Nt. 11-15-79 1,806 733 12 235 49 273 504 0 7 1/8% Nt. 11-30-79 4,317 1,465 40 347 434 647 30 1,354 7 1/2% Nt. 12-31-79 1,869 926 5 309 125 13 271 220 7 1/8% Nt. 12-31-79 3,347 1,085 116 286 396 317 272 875 7 1/2% Nt. 1-3-80 3,474 1,534 53 344 303 193 519 528 Total 55,911 19,850 503 5,689 4,437 5,218 6,682 13,532 * Amounts for investor classes are based on the November 1978 Treasury Ownership Survey. y Includes State and local pension funds and life insurance companies. •2/Includes casualty and liability insurance companies, mutual savings banks, savings and loan associations, and corporate pension trust funds. Office of the Secretary of the Treasury January 30, 1979-29 Office of Government Financing TREASURY MARKETABLE MATURITIES Privately Held, Excluding Bills and Exchange Notes $Bil. 6 1979 48 5.3 5A 5.2 1984 4.5 4 x* 3.4 12?*292.5 Waolao i 3^|r 2 1.81 71.8 I IIS FA 0 6 - 5.4 1980 _. ' cn 5.7 2.7 1985 „3.2 4.7 5.4™ 5^1 5^2 5.0 — 1.2 3.5 3.4 55 27172,9 0 3^3.1 3.5 2.9 2 - ol— 8- 1986 7.5 6h 5.0 1981 5.5 6- 4.7 5.0o.u 4.1 4 2.91 2.9 • 3-3 4 - 2.6 2.4 I 2 2 - 0 I 6«4 1982 4.3 4.7 1987 I I 1.8 2.6 2.5 1.8 2.4 1 2J I 1 2.3 5.8 2=4 1988 1983 2.5 2.2 1989 I 1.0 J FMAMJJASOND JFMAM JJASOND Securities issued prior to 1977 E^New issues calendar year 1978 New issues calendar year 1977 113Issued or announced through January 30, 1979 Office of the Secretary of the Treasury Office of Government Financing January 30, 1979 -2 TREASURY MARKETABLE MATURITIES Privately Held, Excluding Bills and Exchange Notes $Bil $Bil _ 1.8 2.2 2000 2~6 2 1990 2 1 .8 0 0 2 1991 2 2001 I 0 0 6 1992 2002 2 4 3.1 0 2 _ 2003 2 0 1993 2.3 0 1.9 1.4 2 2004 I 2 2 0 1994 0 - 1.5 2.1 2005 2 2 .6 3 0 0 1995 2 2 2006 .4 0 0 s2.7 2007 1996 2 1.2 2 - 0 JL 0 2008 14 1.7 1997 2 2 - 0 I 2 0 2 2009 1998 0 i 2 - 1.2 .4 • 2 2010 0 1999 - 2- 2 .8 2011 0 o'— FMAMJ JASOND F M A M SON Securities issued prior to 1977 SS3 New issues calendar year 1978 New issues calendar year 1977 till Issued or announced through January 30, 1979 Office of the Secretary of the Treasury Office of Government Financing January 30.